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SEC Filings
8-K
ENERGY TRANSFER, LP filed this Form 8-K on 05/03/2017
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Segment Adjusted EBITDA. For the three months ended March 31, 2017 compared to the same period last year, Segment Adjusted EBITDA related to our interstate transportation and storage segment decreased due to decreases in revenues of $12 million on the Tiger pipeline due to contract restructuring, $10 million on the Panhandle and Trunkline pipelines due to weak spreads and mild weather, and $2 million on the Sea Robin pipeline due to producer maintenance and production declines.
The increase in cash distributions from unconsolidated affiliates is due to increased distributions from MEP.

Intrastate Transportation and Storage
 
Three Months Ended
March 31,
 
2017
 
2016
Natural gas transported (MMBtu/d)
7,807,045

 
8,229,972

Revenues
$
816

 
$
558

Segment Adjusted EBITDA
$
169

 
$
179

 
 
 
 
Distributions from unconsolidated affiliates
$
4

 
$
15

Transported volumes decreased primarily due to lower production volumes in the Barnett Shale region, partially offset by increased volumes related to significant new long-term transportation contracts, as well as the addition of a new short haul transport pipeline delivering volumes into our Houston Pipeline system.
Segment Adjusted EBITDA. For the three months ended March 31, 2017 compared to the same period last year, Segment Adjusted EBITDA related to our intrastate transportation and storage segment decreased due to the net impacts of the following:
a decrease of $10 million in transportation fees due to renegotiated contracts resulting in lower demand volumes beginning in the second quarter of 2016 on our ET Fuel pipeline, partially offset by an increase of $5 million due to fees from renegotiated and newly initiated fixed fee contracts primarily on our Houston Pipeline system;
a decrease of $8 million in storage margin (excluding net changes in unrealized amounts of $18 million related to fair value inventory adjustments and unrealized gains and losses on derivatives), as discussed below; and
an increase of $5 million in operating expenses primarily due to higher outside services labor costs and compression fuel expenses; partially offset by
an increase of $7 million in natural gas sales and other (excluding changes in unrealized gains of $4 million) primarily due to higher realized gains from the buying and selling of gas along our system; and
an increase of $5 million in retained fuels (excluding changes in unrealized gains of $1 million) primarily due to higher market prices. The average spot price at the Houston Ship Channel location increased 56% for the quarter ended March 31, 2017 compared to the same period last year.

Investment in Sunoco Logistics
 
Three Months Ended
March 31,
 
2017
 
2016
Revenues
$
3,219

 
$
1,777

Segment Adjusted EBITDA
$
278

 
$
349

 
 
 
 
Distributions from unconsolidated affiliates
$
8

 
$
5

See discussion of Sunoco Logistics’ segments in the following section.

11

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